If the Government of Guyana wants to ensure that it has an oil sector that gives first preference to local companies for the procurement of services and goods, then it is imperative that it ensures those very firms evolve from their “old ways of doing business” says Analyst at Americans Marketing Intelligence, Arthur Deakin.
In his most recent writings, Deakin said that this cultural shift among Guyanese businesses is necessary as the oil sector’s expected level of proficiency demands it. Deakin also made reference to the recently held Caribbean Oil and Gas Conference, where Sudarshan Suhka, Director of Arrow Oilfield Services, noted that a new business mentality and a keen acuteness to one’s day-to-day operations going forward, will mean that companies have to responsibly hire and train the right personnel to ensure they can provide adequate services to the oil and gas industry.
The Analyst posited that if Guyanese businesses lack the predisposition to go above and beyond in their contracting jobs, they may be overlooked when it comes to hiring.
Further to this, Deakin said that the government’s efforts to put in place, a robust local content policy and law are most welcomed as it would provide international oil companies and their subcontractors with the guidance they need on selecting the right local content partner. In this regard, Deakin said, “Exxon, like other key players, is expected to increase its Guyanese workforce in the years to come. However, it has not been an easy task. Despite local companies opening certain doors and mitigating the threats of bureaucracy, it is a complex mission to find the right local partners.”
The analyst added, “Minimal precedence makes it hard for investors to gauge who has had proven success. It is even harder to find businesses that have not had any reputational mishaps.”
Once a robust local content framework is in place, Deakin said he has no doubt that foreign companies will be more inclined to ensure they meet the nation’s expectations regarding local content while being assured that they are following the correct channels to do so.